Kuala Lumpur: Multilevel marketing company Hai-O Enterprise Bhd has received approval from the Securities Commission (SC) for its proposed transfer listing from the second board of Bursa Malayisa to the main board.
In a statement, Hai-O said that it would hold an EGM soon to seek the shareholders’ approval for its proposed bonus issue on basis of one bonus share for five existing ordinary shares.
On completion of the bonus issue proposal, the enlarged issued and paid-up share capital of about 80 million RM1 shares will be transferred from the second board.
For its financial year ended April 30, 2007, Hai-O achieved a 110% growth in net profit of RM21.38mil compared to the previous year.
This translated to earning per share of 32.61 sen, said the company, which markets Chinese herbs and medicines.
Hai-O proposed a final dividend of 13%, which brings the total dividend to 18% for the1financial year ended April 30, 2007.